Also, banks are insured by the government (FDIC) and heavily regulated to reduce the risk of failure. Crypto exchanges are not, which is why they seem to fail about as often as a 19th century bank would.
If you re retiring and expect the bank to be good on a million $ worth of some sort of instrument, you're fucked minus 250k.
And this is totally fine: you re compensated for a low risk of default when you lend to your "savings account" and must accept this could happen. There s no way to make money waiting doing nothing risklessly. Creeptards know that well, they all in on wind, there s no worse risk.